Qatar’s Wealth Fund to Buy Stake in NBA’s Washington Wizards (1)

In a first for US sports, Qatar’s sovereign wealth fund has struck a deal to buy a stake in a company that owns a trio of franchises, including the Washington Wizards, according to a person familiar with the situation.

The Qatar Investment Authority plans to acquire 5% of Monumental Sports and Entertainment, according to the person, who asked not to be identified because negotiations were private. Sportico reportedthe deal earlier and said the transaction would value Monumental, which also owns the National Hockey League’s Washington Capitals and the Women’s National Basketball Association’s Washington Mystics, at ...